Out of the EU countries, Cyprus, Malta and Romania have the highest values, over 20% (the EU average is 5.8%) of the Water Exploitation Index (WEI), 20% being the threshold from which the index shows water deficit, writes on Friday Eurostat, the statistics office of the EU. The Water Exploitation Index (WEI+) measures total freshwater consumption as a percentage of renewable freshwater resources (groundwater and surface water) at a given time and place. It quantifies how much water is abstracted and how much water returns to the environment after use. The difference between water abstraction and return is considered as water use and illustrates the pressure on renewable freshwater resources due to water demand. It is true, the regional differences and the seriousness of the water deficit during summer months are not visible in these annual national average values. Last year, one of the engines for inflation in Romania was the lack of products due to lengthy drought. In Romania, a World Bank report shows that water suppliers do not have the training and the capacity to manage droughty periods. Thus, during the drought of 2022, the Romanian Water Association and the National Authority for Regulation for Community Services for Public Utilities – ANRSC received several referrals to services suppliers in Romania with regards to the challenges they face to keep water supply. The Romanian officials say that safe drinkable water supply needs more work during droughts, but supplementary personnel hiring is not possible. Starting with 1951, Romania has passed through several prolonged droughty periods and two droughts at national level (2012 and 2022). The drought indicators for medium and long terms show that Romania has experienced longer periods of drought at least for three times between 1951 and 2022. We mention the fact that 22nd March is the World Water Day.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
